Lenders - Study guides, Class notes & Summaries

South Carolina Real Estate Exam (State Portion Only) Questions and Answers The creditor should ascertain the preference of the _____ as to legal counsel relating to closing the loan and insurance agent. A) lender B) seller C) real estate agent D) borrower - Correct Answer ️️ -D) borrower The assumption fee when assuming a loan in SC may not exceed _____. A) 1% of the loan or $400, whichever is greater B) 1/2% of the loan C) $500 D) 1% of the loan or $400, whichever is less - Corr...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) - 1. They involve land 2.Transaction time frames are long 3. Transaction costs are high 4. they are expensive 5. They are long lasting 6. Highly regulated 7. have a long production cycle 8. are management intensive 9. are heterogeneous 10. Involve measuring return on investment 1. Long-lasting, Durable Goods 2. Expe...

What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer- 50% Which is the maximum recommended housing ratio for renting an apartment? - Answer- 30% Eligibility requirements for down-payment assistance programs include which factors? - Answer- Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an FHA mortgage? - Answer- 1.7...

to operate, any business must have assets; to acquire assets, the business must raise - -capital capital comes in two forms - -risk and inflation __ and __ are long term debt contracts under which a borrower agrees to make a series of interest and principal payments on specific dates to the lender - -term loans and bonds a term loan is generally provided by a - -single lender bond is typically offered to the - -public and sold to many investors bonds issues by the federal government - -tre...

ACCOUNTING - Correct Answers Planning; Recording; Analyzing; Interpreting financial information. PLANNING DECISIONS - Correct Answers Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. CONTROL - Correct Answers Using financial information to evaluate the results of financial activities. THE FUNCTION OF ACCOUNTING - Correct Answers 1. The value added to the networth of a person/entity dur...

Search Engine Optimization (SEO) The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live Video streaming through facebook. CoStar Database Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Reality (VR) A computer-generated image or environment that c...

GOLD COAST FINAL EXAM STUDY SET for 4/11 [100% Correct] 1 acre is how many square feet? *Ans* 43,560 A broker is entitled to compensation if they... *Ans* bring a buyer who brings an offer the seller was looking for A buyer drops off an escrow check on Monday. To avoid any trouble with FREC, the broker must deposit the check by close of business on which day? *Ans* Thursday A spouse who is left out of a will can claim? *Ans* Elective share 30% Abstract Continuation *Ans* history of ti...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

WGU D103 Intermediate Accounting 1: Units 2-4 Pre-Assessment 100% Solved Report a $3500 sale on account Debit: Accounts Receivable $3500; Credit: Service Revenue $3500 Journalize depreciation for the equipment that is $5,000 Debit: Depreciation Expense $5000; Credit: Accumulated-Depreciation Equipment $5000 Journalize the adjusting entry for an employer that owes $1300 for payroll on Jan 10, 2021, for the payroll period ending December 31, 2020. Debit: Salaries and Wages Expense $1300; Credit:...